Kurt Hallead Purchases 22,000 Shares of Tetra Technologies (NYSE:TTI) Stock

Tetra Technologies, Inc. (NYSE:TTI) VP Kurt Hallead acquired 22,000 shares of Tetra Technologies stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $9.86 per share, with a total value of $216,920.00. Following the purchase, the vice president owned 170,764 shares in the company, valued at $1,683,733.04. This represents a 14.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tetra Technologies Trading Up 6.2%

NYSE TTI opened at $10.39 on Thursday. The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62. The firm has a market cap of $1.38 billion, a PE ratio of 207.84 and a beta of 1.22. The company has a 50 day moving average price of $9.61 and a 200 day moving average price of $9.62. Tetra Technologies, Inc. has a 52 week low of $3.17 and a 52 week high of $12.54.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $156.25 million during the quarter, compared to analyst estimates of $151.20 million. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. As a group, sell-side analysts forecast that Tetra Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Tetra Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TTI. AQR Capital Management LLC raised its holdings in shares of Tetra Technologies by 87.3% in the first quarter. AQR Capital Management LLC now owns 120,585 shares of the oil and gas company’s stock worth $405,000 after buying an additional 56,203 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Tetra Technologies by 125.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,840 shares of the oil and gas company’s stock worth $544,000 after buying an additional 90,001 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Tetra Technologies by 389.7% in the first quarter. Jane Street Group LLC now owns 225,101 shares of the oil and gas company’s stock worth $756,000 after buying an additional 302,793 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Tetra Technologies by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company’s stock worth $1,309,000 after buying an additional 3,547 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Tetra Technologies by 74.4% in the second quarter. Prudential Financial Inc. now owns 17,790 shares of the oil and gas company’s stock worth $60,000 after buying an additional 7,590 shares during the last quarter. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Tetra Technologies Company Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.